RBI MPC Meeting Credit Policy Today, 50 Basis Point Increase Could Be Announced, EMI Will Be Costly

RBI MPC Meeting: RBI Governor Shaktikanta Das will announce the...

RBI MPC Meeting: RBI Governor Shaktikanta Das will announce the decisions of the three-day Monetary Policy Committee of the Reserve Bank of India today. It is believed that in today’s credit policy, the country’s central bank RBI will increase other policy rates including the repo rate for the third time in a row. At present, the repo rate in the country is at 4.90 percent and it can be brought down to 5.40 percent by increasing it by 0.50 percent. This means that it will again reach the level of August 2019.

What is the estimate on the decisions of RBI’s MPC meeting
What decisions will come out of RBI’s Monetary Policy Committee meeting, it will be known after 10 am today, but if RBI increases the rates, then it is clear that its effect will be on home loan, car loan. (Car Loan) and Personal Loan will be on EMI.

RBI has increased rates in the last consecutive credit policy
Earlier in May, the RBI had increased the repo rate by 0.40 percent and in June by 0.50 percent. After this the repo rate is currently at 4.90 percent. If today its rates are increased by 0.35 percent or 0.50 percent, then it will go beyond 5 percent.

What are experts say
Inflation has remained consistently high and the monetary policy has been coming in above the committee’s set level for six consecutive months. Apart from this, recently the US Federal Reserve has increased interest rates by 75 basis points. Keeping this in mind, the Reserve Bank can increase the policy rates by 0.40-0.50 percent in this credit policy.

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